Shippers are facing increasingly difficult negotiations over long-term contracted rates in a market described as nothing less than “red hot”. Rates climbed by a further 2.2% in March, consolidating gains of 9.6% in February and 5.9% in January.
The findings, disclosed in Xeneta’s latest XSI® Public Indices report, mean that container ship operators are currently commanding rates that have soared by an extraordinary 18.6% since the start of the year (up 17.1% against March 2020). This, says...